Turnaround at Warner Bros. Discovery

What strategic, organizational, and financial changes would allow Warner Bros. Discovery to turn around amid massive changes in the media industry and the end consumer?

Kathryn Rudie Harrigan  | Fall 2023
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In May 2021, Discovery, Inc. announced the acquisition of WarnerMedia from AT&T, with David Zaslav to become the Chief Executive Officer of the new consolidated media giant, which would be called Warner Bros. Discovery. Now, the company and new leadership face the simultaneous issues of immediate debt servicing concerns as well as longer-term trends leading to the decline of demand for cable television. With the consolidation, there was also organizational restructuring, which included a steep reduction in headcount as well as brutal, decisive cuts of less profitable business lines. In this case, students will learn about the media and television industry, including the different avenues of monetization and secular trends driving its evolution. Students will be tasked with analyzing financial data as well as discuss strategic next steps to effect the turnaround of a large company facing the headwinds of organizational combination as well as changing consumer preferences.

Case ID: 240401

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